What To Do With All the Money I Wish I Had

What To Do With All the Money I Wish I Had

Do you ever wonder what you would do with that extra $100 in your bank account? That is, if you have it. My extra cash right now amounts to about $4.50, so my options are limited at the moment. But, if I had an extra million or so, what would I do with it? As far as investing it, that is. I used to place my savings in the stock market, and now I’m still scrambling to get the remainder of my cash out before it vanishes into thin air.
Real estate appears to be the hot ticket these days, even though analysts are saying that the bubble is about to burst. I don’t know how relevant that is to those of us in the coastal states, especially California. If you paid a lot for a house, even if it depreciates slightly, you can make up for it over the years if you hold on to it. Like the stock market, you really only lose our on your real estate investment if you sell when prices are on the downswing. Sit tight and ride the wave all the way to the top, even if it takes a few years. And who says a house has to be just an investment anyway? Everybody needs a place to live. A house is meant to be a home. If you’re lucky, or smart, or both, you take care of it and it can keep a little change in your pocket. Mortgage Refinancing is one way to help you settle debts in other areas of your life as well. Sick of that student loan payment, or need a new roof? Refinance, take care of that debt and you’re that much better off than you were before. Being responsible with that equity is important, ask anyone who’s been around for a while.
If you don’t feel quite ready for real estate investments, some people are still utilizing other vehicles to plan for retirement. My grandmother used to hide her money in her mattress, which worked for her, but things have changed since her day. I would like to learn more about the precious metal market, or perhaps return to investing in stocks. I remember a few years ago I worked at a women’s retail store and the company’s stock price was low and generally was performing poorly. My coworkers laughed at me, but I hung in there with my small stock purchases and tripled my money before it was all over with. I went with my gut and it paid off. That’s probably what needs to happen right now with investing. Think about what we like, what we believe in, think twice before following trends. Trends are a lot like jumping in the fast lane on the freeway, when it’s moving everybody is trying to get in it, but then it ends up coming to a complete halt and you get no where. Follow your hunches, change lanes a few times before you get in your own financial groove. If I had a million to invest, I’m still not sure how I would allocate it, but I can tell you I’d get a lake front house for starters somewhere up here in Northern California. It probably wouldn’t make me that much richer but it would be an investment in my lifestyle and options. Isn’t that what it’s all about anyway? Quality of life, where money is only a vehicle.

Chandra Adams
Author
Shades of Retribution
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www.ChandraAdams.com